Wed, Jan 8, 2025 1:06 PM
Are we headed for a bear market in 2025? | Stock Market News
A Flip by Swapnil Tiwari
Bernstein has initiated coverage on Swiggy Ltd. with an ‘Outperform’ rating and a price target of ₹635 per share. The target implies a potential upside of 29% from the stock’s closing levels on Wednesday. In its note, Bernstein said that Swiggy pioneered food delivery in 2014, later expanding into quick commerce. It is now the second-largest hyperlocal platform in India, after Zomato.
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PN Gadgil Jewellers' stock is expected to gain attention following a strong Q3FY25 business update, with 24% YoY revenue growth driven by festive demand and same-store sales growth, despite a 12% decline in the past month. The company plans to open three more stores in the upcoming quarter, expanding its footprint.
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HSBC Securities said Bharti Airtel's dividend payout is expected to rise by 114% in FY25 to ₹17 per share from last year, driven by improvement in free cash flow and funding requirements at the promoter entity. The brokerage said the dividend per share is estimated to quadruple to ₹34 in three years. It has maintained a 'buy' rating with a ₹1,940 price target, implying a 21.3% upside.
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